Xerox Announces Pro Rata Warrant Distribution to Enhance Shareholder Value and Accelerate Deleveraging

Core Viewpoint - Xerox Holdings Corporation has announced a pro-rata distribution of warrants to its shareholders as part of its capital structure optimization initiatives, aimed at strengthening its balance sheet and creating long-term value for shareholders [1][2]. Distribution Details - The distribution will occur on or about February 11, 2026, with holders of record of common stock receiving one warrant for every two shares held, rounded down to the nearest whole warrant [3]. - Holders of Series A Preferred Stock and Convertible Notes will receive warrants based on the same ratio, as determined by their respective governing documents [3]. Warrant Features - Each warrant will allow the holder to purchase one share of common stock at an exercise price of $8.00, with an expiration date of two years from the distribution date unless an early expiration condition is met [5]. - The warrants will be distributed at no cost to eligible holders, and the company plans to apply for trading approval for the warrants [5]. Exercise Mechanics - Holders can exercise their warrants using cash or designated Xerox debt securities, which will be specified in the warrant agreement [6][7]. - The right to exercise using designated debt securities will terminate if the average stock price meets certain conditions [7]. Additional Information - Further details regarding the warrant distribution, including key dates and exercise procedures, will be available in the warrant agreement and related investor materials on the company's website [8].